Relevant and timely views by Mr. Amitabh Kant. From execution-support centers to ownership-innovation hubs, India is rapidly becoming an integral part of the global talent and innovation value chain. And much more to come over the next many years.......
India's Global Capability Centres (GCCs) have evolved from back-office operations to innovation hubs driving AI & R&D++ for MNCs, employing 3.2M and contributing $121B. With over 1,580 centres, India's GCCs are pivotal in global business. I write in @htTweets: https://lnkd.in/g7JTHwtc
Relevant and timely views by Mr. Amitabh Kant. Having been an active participant in the Global Capability Centers (GCCs) evolution cycle over the past 20 years, I can very well relate to this. From execution-support centers to ownership-innovation hubs, India is rapidly becoming an integral part of the global talent & innovation value chain. And much more to come over the next many years.......
India's Global Capability Centres (GCCs) have evolved from back-office operations to innovation hubs driving AI & R&D++ for MNCs, employing 3.2M and contributing $121B. With over 1,580 centres, India's GCCs are pivotal in global business. I write in @htTweets: https://lnkd.in/g7JTHwtc
The transformative impact of Global Capability Centres (GCCs) on India's economic landscape is remarkable. Here's a quick dive into how GCCs are reshaping India's position in the global market:
Evolution: From back-office operations to innovation hubs driving AI and R&D for MNCs.
Employment: GCCs employ 3.2 million professionals in India.
Economic Contribution: Contributing $121 billion in revenue.
Growth: Over 1,580 GCCs in India, primarily in Bengaluru, Hyderabad, Pune, and Gurugram.
Specialization: 60% specialize in engineering, R&D, data analytics, IT services, and business process management.
Technological Focus: Emphasis on AI, machine learning, blockchain, and end-to-end product development.
New Entries: In 2023, 10 new GCCs were established, with a strong focus on the semiconductor sector.
Key Advantages:
Cost-Effectiveness: Offering high-quality output and adaptability to market changes.
Talent Pool: Leveraging India's young and growing workforce, with 2.3 million STEM graduates annually.
Strategic Shifts: Moving towards tier-II and tier-III cities for economical living and skilled professionals.
Challenges & Opportunities:
Education Reform: Moving from rote-based to creative and analytical thinking.
Gender Inclusivity: Encouraging more women in tech and STEM fields.
Regulatory Compliance: Navigating transfer pricing, SEZ regulations, and labor laws.
To sustain this momentum, India must invest in:
Talent Management: Enhancing education platforms and digital infrastructure.
Regulatory Clarity: Streamlining processes for smoother operation.
Innovation: Fostering a culture of continuous improvement and strategic alignment with global trends.
Amitabh Kant’s insights provide a clear roadmap for capitalizing on the immense potential of GCCs, solidifying India's position as a global hub for end-to-end service delivery.
#India#Innovation#GCCs#EconomicGrowth#AI#Tech#Business#R&D #TalentManagement#EducationReform#RegulatoryComplianceAmitabh Kant
India's Global Capability Centres (GCCs) have evolved from back-office operations to innovation hubs driving AI & R&D++ for MNCs, employing 3.2M and contributing $121B. With over 1,580 centres, India's GCCs are pivotal in global business. I write in @htTweets: https://lnkd.in/g7JTHwtc
A good read from former CEO NITI Aayog (Planning body of Govt. of India) on how the GCCs are fueling the India story! Apart from the sheer number of GCCs that have sprung up (~1600) in major tech-hubs, also worth noting is the drastic SHIFT in the nature of work - from back-office outsourcing to cutting edge innovation & RnD in the area of AI, Blockchain, engg. solutions etc. This phenomenon is more or less similar for other countries like Philippines, Vietnam, Malaysia etc. And the best part - this phenomenon is entirely symbiotic : MNCs get to tap into specialized talent for their sustenance & growth, in the process, rewarding skilled talent with better opportunities!
India's Global Capability Centres (GCCs) have evolved from back-office operations to innovation hubs driving AI & R&D++ for MNCs, employing 3.2M and contributing $121B. With over 1,580 centres, India's GCCs are pivotal in global business. I write in @htTweets: https://lnkd.in/g7JTHwtc
In reflecting on this remarkable transformation, it's evident that GCCs in India are not just supporting global enterprises but are actively shaping technological and business strategies worldwide. Their evolution from basic service functions to centers of excellence in AI and research is a testament to India's talent pool and innovative capabilities. This shift underscores the strategic role India plays in the global market, highlighting our potential to host more such centers that drive future technological advancements and economic growth.
#GlobalCapabilityCenters#AccountTreeGlobal#GCC#AI#IndiaGrowth
India's Global Capability Centres (GCCs) have evolved from back-office operations to innovation hubs driving AI & R&D++ for MNCs, employing 3.2M and contributing $121B. With over 1,580 centres, India's GCCs are pivotal in global business. I write in @htTweets: https://lnkd.in/g7JTHwtc
Insightful! Reflects deep understanding of the market and a detailed forecast. 👏
India's involvement in the strategic functioning and decision making of international/foreign entities has overly increased in the recent years and continues to grow. The industry (rather, a sector in itself) has scaled at an unanticipated rate and has actually transitioned from back office work to exceptional value addition to the overall ecosystem. It is one of the few markets that is growing vertically as well as horizontally! The industry has been witnessing radical shifts in its operate and commercial model, is offering exponential innovation opportunities, and its involvement in its client's business is increasing continuously.
#GlobalCapabilityCentres#GCC#ManagedServices#Outsourcing#Globalisation
India's Global Capability Centres (GCCs) have evolved from back-office operations to innovation hubs driving AI & R&D++ for MNCs, employing 3.2M and contributing $121B. With over 1,580 centres, India's GCCs are pivotal in global business. I write in @htTweets: https://lnkd.in/g7JTHwtc
CEO at AIQRATE & 3AI | Founding Partner at MIRAI Ventures| AI advisor, GTM & venture builder | |Ex-CSO :Fractal ,Global Business Leader : Cognizant ,Country Head : Fidelity National Financial
Are you aware that 3AI have the largest representation of Global capabilities centers (GCCs) ??
GCC SPHERE – An Integrated Marketplace & hub for Global Capability Centers (GCCs) by 3AI to cater to consulting, services, solutions, talent, workplace & allied business requirements.
A first-of-its kind initiative by 3AI, India’s largest platform and marketplace for
#Data, #AI & #Analytics leaders & professionals; GCC Sphere will redefine the GCC landscape with one stop shop fulfillment of business requirements for GCCs .
With a whopping entrenchment & penetration amongst 412+ GCCs through MDs, Country Heads, Data, Analytics, AI & Technology Heads; 3AI is onboarding select & proven partners across consulting, services, solutions, talent, workplace & allied areas and will suggest and recommend GCCs the credible partners to build and scale on their respective GCC journey.
GCCs looking to leverage external partner ecosystem or external consulting, services, talent, L&D solutions firms looking to work with GCCs; reach out to us at [email protected] for onward dialogues.
#3aigccsphere#gccs#marketplace#platform#gcc#sharedservicesNandakumar RamaiahKapil Gandhi
Great insights Sachin Kulkarni !!
‘Be Fearless but not Reckless’ is a great thought & true guiding principle for responsible use of AI. The pivots around #augmentation#automation and #acceleration would lead the future way for GCCs to grow and transform into Global transformation centres, well said!!
President @ Fiserv Global Services | Independent Director | Board Member | NASSCOM GCC Council Member | Drives Profitable Growth, Client Satisfaction and Operational Excellence
Recently, I was part of an insightful discussion on how emerging tech is driving disruptive #innovations and business #growth at the #nasscomGCC Conclave 2024 in #bengaluru with my esteemed co-panelists Nithya Subramanian, Anil Yadav and Raphael Viard.
I think of the future of #GCCs as Global Transformation Centers, innovating from India for the world to enhance client experiences, drive operational efficiency and create market expansion for the global enterprise.
A key pivot will be leveraging #AI in terms of: #Augmentation – improving developer experience and efficiency; #Automation – enhancing processes and customer engagement; and #Acceleration - building new solutions and products to create differentiated value. While harnessing the power of AI innovating for the future, it is prudent to ‘Be Fearless but not Reckless’ and ensure responsible use of AI principles.
Thank you Debjani Ghosh, Sandeep Bahl and team nasscom for this great platform and bringing together a thriving #GCC community.
#fiservproud
India has undergone a transformative journey with Digital Public Infrastructure (DPI), and there's much to learn and adapt from these advancements. India's integration of AI into its DPI has redefined the landscape of digital governance, proving that with the right approach, nations can achieve remarkable progress in a short time.
India's success with DPI—spearheaded by innovations like digital payments and the biometric identification system—has shown how digital infrastructure can unlock economic potential, improve service delivery, and enhance social inclusion.
By adapting some of these strategies, we can strengthen our digital ecosystems and better serve our diverse population, and India's success underscores the importance of public-private partnerships in driving innovation.
Well done to the many innovative thinkers transforming DPI for India, and I see many applications here in Malaysia to build a more inclusive, efficient, and resilient digital future.
https://lnkd.in/gBA6qVrx#DigitalTransformation#Malaysia#DPI#AI
